1652 Exchange St UNIT 20OkobojiIA51355
INVESTMENT ANALYSIS
Investment Verdict
Solid Income1652 Exchange St UNIT 20, Okoboji, IA, 51355 in Okoboji earns a respectable 9.12% gross yield at $215,000, but after the $967/mo mortgage the net cash flow is $87/mo, a tight but positive spread. Expense discipline (vacancy, management, maintenance) will determine whether the margin widens. Ziffy Mortgage's DSCR mortgage (1.69) still qualifies on property income; a larger down payment can improve the cash-flow buffer. Long-term, 5% appreciation projects $59,401 over five years, making equity the dominant return driver. Total projected return: $88,024.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 8.5% |
| Monthly Cash Flow | $87 | $1,200 |
City averages based on Okoboji market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,633 |
| Total Monthly Debt Service | $1,461 |
| DSCR Ratio | 1.12x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2002
5,662 sqft lot
$N/A/sqft
$150 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 2002
5,662 sqft lot
$N/A/sqft
$150 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bridget Johnson • Next Home at the Lakes
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #827005
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.